The Eurosystem collateral framework (ESCF) has played a key role in the ECB monetary policy implementation since 1999 … underlined the importance of central bank collateral frameworks. Broad collateral frameworks have helped prevent large … first explains and justifies the logic of collateral frameworks in general and that of the ESCF in particular. It then …

Economics at the University of Munich in May 2016. The thesis tells the story of the Eurosystem's collateral framework and its … Pfänderkriterien und der Risikokontrolle, indem es die Entwicklung der Bonität der dem Eurosystem verpfändeten Sicherheiten … nachvollzieht. Das innerhalb dieses Kapitels erarbeitete Modell zeigt, dass Banken Sicherheiten minderer Qualität dem Eurosystem …

collateral framework of the Eurosystem as a basis of illustration and case study, the paper brings to light the functioning … in modern monetary and financial systems, namely central bank collateral frameworks. Their importance can be understood …, not defined in a market, but by the collateral frameworks and interest rate policies of central banks. Using the …

higher bidding rates. Dealers with less liquid collateral on their balance sheets before the facilities were introduced also …

last resort operations. We conclude our paper by relating our findings to contemporary debates including those regarding …

. Issues addressed include the structure of the Eurosystem and its central banking functions, the kind of independence granted …

. Issues addressed include the structure of the “Eurosystem” and its central banking functions, the kind of independence …

This paper investigates the European Central Bank's (ECB) monetary policies. It identifies an antigrowth bias in the … bank's monetary policy approach: the ECB is quick to hike, but slow to ease. Similarly, while other players and … attached to the euro area’s official competitive wage-repression strategy, which is in conflict with the ECB's price stability …